Chalice Brands Ltd CHALF

RE:will this company survive ...

[SenorLegume]

GLH is seeking more $$ to keep the doors open right now and have been for sometime. Seeing as its not closing should tell you plenty with cash burn of 3 million per quarter. Not going to make it.

Will they seek more dollars

TORONTO, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Golden Leaf Holdings Ltd. (“GLH” or the “Company”) (CSE:GLH) (OTCQB:GLDFF), a leading cannabis oil solutions company built around recognized brands, today announced that it has revised the terms of its previously announced private placement of convertible debenture units (the “Offering”). Under the revised Offering, the Company is offering up to C$15 million of debenture units (the “Units”) of the Company, each Unit to be comprised of one C$1,000 principal amount 10% senior secured convertible debenture (each, a “Debenture” and collectively, the ”Debentures”) and 2,381 common share purchase warrants (each, a “Warrant” and collectively, the “Warrants”), at a price of C$1,000 per Unit, for aggregate gross proceeds of up to C$15 million. The Debentures will bear interest at the rate of 10% per annum and mature 24 months from the closing of the Offering. Each Debenture is convertible into common shares of the Company (each, a “Common Share”) at a conversion price of C$0.21 per Common Share, subject to adjustment in certain events. Each Warrant will entitle the holder to acquire one Common Share at a price of C$0.28 per Common Share for a period of two years following the closing of the Offering, subject to adjustment in certain events. The net proceeds from the Offering are anticipated to be used for working capital, inventory and to repay existing indebtedness. 

Read more at https://www.stockhouse.com/news/press-releases/2017/10/02/golden-leaf-announces-amended-terms-and-up-size-of-private-placement-of-secured#EtIWklyQEMPDiVAk.99